Finance & Accounting Software

Everything you need to know

This buyers guide will help you understand the key features of finance and accounting software, the business benefits and challenges of using it, and accounting industry trends. It will also identify the users who most commonly use accounting software.

Options for sorting the directory

Sponsored

Vendors bid for placement within our listings. This option sorts the directory by those bids, highest to lowest. Vendors who bid for placement can be identified by the blue “Visit Website” button on their listing.

Avg. Customer Review

Sorts listings by overall star rating, based on user reviews, highest to lowest.

Recommended for Me

Listings previously selected by users whose company industry and size match yours. Recommendations are not sponsored.

Adaptive Insights, a Workday company, is a leading cloud-based budgeting, forecasting, and reporting software for non-profits, supporting finance and sales teams looking to drive business success with active planning. Read more about Adaptive Insights

QuickBooks Online is a complete small business accounting solution which allows users to manage all their financial data in one platform, with real-time dashboards and reports. Read more about QuickBooks Online

Certify is a travel and expense report system for employees which gives powerful tools for accounting, expense tracking, receipt capture, payment processing, reporting, compliance, and more. Certify is designed to speed up the expense reporting process with receipt parsing and and autofill features.Read more about Certify

Avaza is a business management solution which includes features for project management, resource scheduling, online timesheets, expense management, online invoicing, recurring invoicing, quotes and invoices, and more. Avaza also integrates with third party platforms to streamline workflows.Read more about Avaza

HarmonyPSA supports the entire business lifecycle, from lead generation to contract renewal. It is designed and built specifically for software and services businesses, automating business functions in a single platform available from the cloud on any device.Read more about HarmonyPSA
Gain valuable insight
With all the functionality you need in one place you’ll have the visibility to see what’s going on at the highest level and make more informed decisions.
Increase billing
With integrated time tracking systems and streamlined, automated billing you can bill more quickly and accurately. Contract management functionality eliminates revenue leakage and so improves profitability.
Grow sales
Convert more of your sales pipeline using our campaign management tools. Maintain and grow your existing customer base by providing exceptional customer service.
Streamline operations
Defined workflow processes will ensure that work gets done the way you want it to, every time, saving time and resources

Patriot Software offers two payroll options for small business owners in the USA to choose from: Basic Payroll and Full Service Payroll.
Basic Payroll base price $10/mo + $4 per employee. You enter the hours and run payroll with our simple 3-step process.Read more about Patriot Payroll You will be able to file your own payroll taxes and get payroll tax filing reports within the software.
Full Service Payroll- base price $30/mo +$4 per employee. You enter employee hours run payroll with our simple three step process. WE file federal state and local payroll taxes.
Process payroll electronically by FREE direct deposit or by paychecks that you print or handwrite.

DEAR Inventory is a cloud-based, inventory and order management application for SMBs which offers a complete back end management solution with purhcasing, sales, warehouse management, and light manufacturing features as well as shipping, eCommerce and payment gateway integrations… Read more about DEAR Inventory

WorkflowMax lets you manage all your job management & project management needs in a single, seamlessly integrated system. Features lead management, quotes, time sheeting, job tracking & costing, project management & reporting, invoicing, add-on integrations & more.Read more about WorkflowMax If you run a service business & track your time, WorkflowMax is likely perfect for you!

Everything you need to know

This buyers guide will help you understand the key features of finance and accounting software, the business benefits and challenges of using it, and accounting industry trends. It will also identify the users who most commonly use accounting software.

Here's what we'll cover:

What is accounting software?

Key accounting software features

Application categories and types of buyers

Example of an accounting solution

Accounting software market trends

Benefits and potential issues of accounting software

What is accounting software?

Accounting software is specialized application software that automates accounting and finance-related tasks. The software stores and analyzes accounting transactions within various functional domains of accounting and finance that relate to accounts payable, accounts receivable, general ledger, payroll, tax management, invoice and expense management, and other domains.

Key accounting software features

Below is a list of core accounting features:

Features

Description

Accounts payable

Financial reports and dashboards help you keep tabs on invoice management and on the total debit billing transactions your business owes to suppliers and creditors.

Accounts receivable

Uses financial reports and dashboards to track the total amount of money that your suppliers or clients owe you.

Cash flow management

Helps in budget forecasting and bank reconciliation by monitoring cash flow in bank statements and in check and credit card transactions.

Tax and compliance management

Files taxes according to IRS requirements by calculating your tax obligations based on your small business revenue and business classification as S-corp or C-corp.

Payroll management

Helps your payroll department manage your staff salaries and tax deductions and calculates total salary based on the number of days worked.

Application categories and types of buyers

Here are some common ways accounting software can be applied:

Application category

Description

Types of buyers

eCommerce

eCommerce businesses can overcome the challenge of large volumes of online receipts by integrating with an accounting solution that processes accounts payable. Accounting software can help streamline larger volumes of customer receipts and invoices through detailed dashboards and reports.

Customer relationship management (CRM) managers

Retail operations

Point of sale (POS) systems are vital for retail, helping organize the huge volume of financial data generated by financial transactions, including data related to inventory management and sales tax.

Accounting software market trends

Some of the recent trends in accounting software include:

Increased integration of cloud-based accounting tools with third-party softwareIntegrations with non-accounting tools help users focus on specific finance areas such as compliance or tax management by integrating a CRM software with the tax or compliance module of an accounting software.

Shift toward mobile accountingMobile apps sync with the information in an on-premise accounting solution to provide up-to-date accounting reports and dashboards. With mobile computing, finance and accounts managers can capture or scan invoice and receipts through mobile phones and store them in a cloud-based database for processing accounts payable.

Application of advanced automation technologies such as AI and machine learningArtificial intelligence and machine learning are examples of leading automation technologies that have been widely leveraged to streamline accounting tasks, such as replacing manual data entry of balance sheet and ledgers. Similarly, machine learning has been applied in predictive analytics to calculate long-term cash flow to avoid bankruptcy.

Benefits and potential issues of accounting software

Benefits

Real-time updates to financial information presented in dashboards and reports

Reduced manual data entry

More accurately forecast cash flow

Prevent fraud and adhere to compliance

Potential issues

Having to purchase a complete accounting suite instead of a specific module

Limited flexibility to add more users to an accounting solution based on the pricing tier

Steep learning curve for the technical aspects of the software, often with limited customer support

GetApp lists the best Finance & Accounting software vendor reviews. Including examples of their program solutions, company comparisons, and other types of application options.

Why GetApp is Free

GetApp offers free software discovery and selection resources for professionals like you. Our service is free because software vendors pay us when they generate web traffic and sales leads from GetApp users.

Because we’re committed to help you find the right solution for your business needs, we list all software vendors on our website, and give them the opportunity to feature their solutions and collect user reviews.